Amiri S3 Shariah Stock Screening
Overview
Amiri S3 is Amiri Capital’s Shariah Screening System, the definitive Shariah-compliant stock screening system for Islamic investors worldwide. It is the first such system to have been issued a Fatwa on its own right.
Amiri S3 is an easy-to-use tool that allows fund managers to rapidly ascertain whether a particular stock can be invested in from a list of over 38,000 global stocks.
Why Stocks Need to Be Screened?
- Islamic law prohibits certain types of activities. If a business conducts such activity, an Islamic investor is not allowed to invest in that company. Business activity screening is therefore required.
- Islamic law also prohibits interest or riba . If a company conducts business using a high level of interest, an Islamic investor is not allowed to invest in that company. Financial ratio screening is required to ascertain the level of interest a company uses.
Examples of activities not permitted by Islamic law are:
- Alcohol or tobacco products;
- Gaming or gambling;
- Weapons and defence related products;
- Pork products and other non-halal meats;
- Conventional banking, insurance or any other interest related financial services activity;
- Pornographic materials; or
- Any other activity that is not permitted by Shariah as determined by the Shariah Advisor.
